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is a legal one, and neither discovery nor extrinsic evidence is
necessary or appropriate for its decision. Petitioner’s asserted
purpose for discovery is simply a disagreement with the position
taken by Hercules with respect to the effect of the 2001 plan
amendment.
We now turn to the question of whether respondent
Commissioner erred in issuing a favorable determination letter to
Hercules. As noted above, section 401(a) lists the requirements
that must be met by a trust forming part of a pension or profit-
sharing plan in order for that trust to be eligible for favorable
tax treatment under the various sections of the Internal Revenue
Code. Under section 401(a)(7), a trust shall not constitute a
qualified trust unless the retirement plan of which such trust is
a part satisfies the minimum vesting standards of section 411.
Under section 411(a), a retirement plan must provide that, inter
alia, the requirements of section 411(a)(11) are met. Section
411(a)(11), as amended by the Uruguay Round Agreements Act, Pub.
L. 103-465, sec. 767(a)(1), 108 Stat. 5038, provides that, if the
present value of a participant’s nonforfeitable accrued benefit,
as determined under section 417(e)(3), exceeds a specified dollar
amount, the plan must provide that such benefit may not be
immediately distributed without the participant’s consent. See
sec. 411(a)(11)(A) and (B); see also sec. 1.411(a)-11(a), (d),
Income Tax Regs.
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